UAE-based port operator the AD Ports Group has entered into a memorandum of understanding (MOU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, for the development and operation of a multipurpose terminal in Safaga Port on Egypt's Red Sea coast.
Under the MOU, AD Ports will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port.
The development of the terminal is in line with the goal of opening new markets for Egyptian exports via direct maritime routes across the Arabian Gulf, East Asia, and Africa regions.
